Tags: Larry Summers

Ben Bernanke isn’t wasting any time cashing in on what might be the greatest transfer of wealth in history from 99.9% of the world’s population to a handful of connected oligarchs and their political minions. Cronyism does indeed pay well, even if bureaucrats have to wait until they leave office to collect.

The Bernank isn’t wasting any time ringing the register.

From Reuters:

Former Federal Reserve Chairman Ben Bernanke said the U.S. central bank could have done more to fight the country’s financial crisis and that he struggled to find the right way to communicate with markets.

“We could have done some things on the margin to mitigate somewhat the crisis,” Bernanke, 60, said on Tuesday in his first public speaking engagement since he stepped down in January after eight years heading the Fed.

“Although we have been very aggressive, I think on the monetary policy front we could have been even more aggressive.”

“This is going to sound very obvious but the first thing we learned is that the U.S. is not invulnerable to financial crises,” Bernanke said.

Um, so you thought it was? Never forget that these are the clowns running the show.

Bernanke said he could now speak more freely about the crisis than he could while at the Fed – “I can say whatever I want” – and in remarks to over 1,000 bankers and financial professionals in the capital of the United Arab Emirates, he made clear that he had regrets.

Bernanke received at least $250,000 for his appearance at the financial conference staged by National Bank of Abu Dhabi NBAD.AD, the UAE’s largest bank, according to sources familiar the matter. NBAD did not announce the fee.